RLX (RLX Technology) Moat Score: 5/10 (As of Jul. 01, 2026)


RLX RLX Technology Inc RLX
68 GF Score
Price $1.94
GF Value $4.06
Valuation Significantly Undervalued
! 5 Warning Signs
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What is RLX Technology Moat Score?

RLX Technology RLX +2.11% 68 Moat Score is 5 as of Jul. 01, 2026. GuruFocus rates RLX with a GF Score™ of 68/100 and a GF Value™ of $4.06 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 54 Tobacco Products companies, RLX Technology ranks better than 83.33% on this metric.

RLX Technology has the Moat Score of 5, which implies that the company might have Narrow Moat - Solid narrow moat.

RLX Technology has Narrow Moat: RLX Technology Inc has a solid narrow moat due to its strong brand presence in the Chinese e-cigarette market and some regulatory barriers. However, the industry is competitive, and customer loyalty is not deeply entrenched, limiting the moat's strength.

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes RLX Technology might have Narrow Moat - Solid narrow moat.

RLX Technology  (NYSE:RLX) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

RLX Technology Moat Score Related Terms

RLX vs TPB, UVV, AIIR: Moat Score Comparison

For the Tobacco subindustry, RLX Technology's Moat Score, along with its competitors' market caps and Moat Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

RLX Technology Moat Score vs Tobacco Products Industry

For the Tobacco Products industry and Consumer Defensive sector, RLX Technology's Moat Score distribution charts can be found below:

* The bar in red indicates where RLX Technology's Moat Score falls into.


RLX
68GF Score
RLX Technology Inc RLX
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Frequently Asked Questions Learn more about Moat Score →
What does a Moat Score of 5 mean?
RLX Technology (RLX) has a Moat Score of 5 as of Jul. 01, 2026. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. According to the industry distribution chart, RLX Technology ranks #9 out of 54 companies in the Tobacco Products industry, placing it in the top 16.7%.
Is RLX Technology's Moat Score too high?
RLX Technology's current Moat Score is 5. Based on the distribution chart, RLX Technology ranks #9 out of 54 companies in the Tobacco Products industry, which is in the top quartile — a strong position relative to peers. Overall, RLX Technology has a GF Score™ of 68/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does RLX Technology's Moat Score compare to TPB and UVV?
According to the Tobacco Products industry distribution chart, RLX Technology ranks #9 out of 54 companies for Moat Score. This places RLX Technology in the top 17% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Moat Score for a Tobacco Products company?
A good Moat Score depends on the Tobacco Products industry context. However, Moat Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Moat Score mean?
A high Moat Score can signal that a stock is expensive relative to its fundamentals. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. RLX Technology's current Moat Score is 5. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is RLX Technology stock overvalued right now?
Based on GuruFocus' analysis, RLX Technology (RLX) is currently considered Significantly Undervalued. The stock's GF Value™ is $4.06, compared to a current price of $1.94 — trading 52.2% below its estimated fair value. The current Moat Score is 5. RLX Technology's overall GF Score™ is 68/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Moat Score calculated?
Moat Score is calculated from a company's financial statements. For RLX Technology (RLX), the current Moat Score is 5 as of Jul. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is RLX Technology (RLX) Overvalued in 2026?

Based on GuruFocus' analysis, RLX Technology stock appears to be undervalued. The current stock price of $1.94 is trading 52.2% below its estimated GF Value™ of $4.06. GuruFocus considers RLX Technology to be Significantly Undervalued.

Key valuation signals for RLX:

  • Moat Score: 5
  • GF Value™: $4.06 vs. price of $1.94 (52.2% below fair value)
  • GF Score™: 68/100 with 5 warning signs

No single metric tells the full story. See the RLX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

RLX Technology Business Description

Other Exchanges 3CM:Germany
Address No. 9 Jian’an First Road, Financial Street, 35/F, Pearl International Financial Center, Third District, Bao’an District, Shenzhen, CHN, 518101
RLX Technology Inc is engaged in the manufacturing of e-vapor products for adult smokers. It has an integrated offline distribution and "Branded store plus" retail model tailored to China's e-vapor market. The company has two reportable segments, Core Markets and Europe Acquisition. The majority of the revenue is earn from Core Markets segment.
68GF Score

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$1.94
Price
$4.06
GF Value